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Apr 20, 2013
04/13
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have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic. thank you very much. >> thank you very much. [applause] >> let me just start the questions by asking you, we have seen major initiatives in both the united states and europe to regulate banks. is more coordination needed between the two of us and if so, how would you recommend that we could achieve that. >> obviously more coordinate needed, but we try to find solutions in europe. we know that u.s. has in some way gone ahead, but we will work -- we discuss -- it's not most problematic issue actually, to have common understanding
have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic....
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Apr 20, 2013
04/13
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now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in which the united states is living beyond its means. now, those remarks were to try to get you interested. people don't usually pay money to hear me speak. i assume you are all at least somewhat interested. if you look at free trade, once you understand there's an issue here with the trade situation, if any of you got a wallet on you, pull out a ten dollar bill. the guy on the ten dollar bill etary of the treasury, ca the intellectual architect of american capitalism, one of the founding father, and an envowed protectionist as was abraham lincoln, as was virtually every president prior to world
now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in...
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Apr 17, 2013
04/13
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we had no capacity to deal with it other than by we were in deficit and had a bigger deficit. we have to slowly work our way out. the budget gets us to a solid stable place. >> what is the highest rate you think can be charged to small business? >> i'm sorry. >> we're 39% now. the highest in the nation. that -- i can tell you that doesn't help small business. what is the highest rate you and the president think they can charge small business before they collapse and break? >> obviously businesses choose whether to organize on the corporate side or individual side. we we have not proposed any increase beyond the current 39.6 on the individual side. the better we do -- i heard you talk about. what is his deal. >> it was not a simple as this. it was difficult negotiation we were negotiating with republicans to refuse to put taxes on the table. >> forget it. let me pose this. i'm a small business owner and i can tell you your not helping small business. the burden that the administration is putting on small business unbelievable. i would suggest you look at texas or nod see what l
we had no capacity to deal with it other than by we were in deficit and had a bigger deficit. we have to slowly work our way out. the budget gets us to a solid stable place. >> what is the highest rate you think can be charged to small business? >> i'm sorry. >> we're 39% now. the highest in the nation. that -- i can tell you that doesn't help small business. what is the highest rate you and the president think they can charge small business before they collapse and break?...
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Apr 18, 2013
04/13
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weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of sequestration. sequestration will have a major impact on military personnel. the pay of military personnel has been exempt it will ask them -- for troops including schools, military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues the measure drawdown of active duty and present and strength. we have in recent years given the department numerous force shaping authorities to allow us to reduce the debt strength in a responsible way, ensuring that the service maintains the proper enforcemen
weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of...
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Apr 20, 2013
04/13
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so as much talk as there is right now about fiscal deficits, only let the world economy, it is perhaps part of future growth . the willingness to reciprocate and recognize the underlying the chances for prosperity. so the last they'll like to say, something a bit extraordinary. the catholic church, couple and their foreign. big changes. the world's most. the future, the future lies largely in the future of the church and the emerging markets. but as those in the catholic church and the images that come of the just of the emerging world so that we can all share in the futures. a muffled. [applause] >> how can you had the discipline and the clarity and a example i would use would be check, we don't trust them to keep the country afloat. we don't trust them to properly regulate. how do we maintain solid discipline free trade relations and support their growth, support our gross? >> as i think about that this get -- discipline plus clarity. the use the example of free trade discipline is the contrast of free trade means that we both imports and exports to prosper. we often fall. a tremendo
so as much talk as there is right now about fiscal deficits, only let the world economy, it is perhaps part of future growth . the willingness to reciprocate and recognize the underlying the chances for prosperity. so the last they'll like to say, something a bit extraordinary. the catholic church, couple and their foreign. big changes. the world's most. the future, the future lies largely in the future of the church and the emerging markets. but as those in the catholic church and the images...
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Apr 22, 2013
04/13
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greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european supervision of banks because our banking works not only in the frame of one member state, but all of us. we need a european mechanism and a european supervision. we haveimemented, we will implement a supervise mechanism in the coming weekings. it -- weeks. it has been already decided. we will build, we have a european regulation on deposit insurance. we have a european regulation on our -- it is not yet decided, but it's drafted, and it is on the way on regulation that was -- [inaudible] mechanism as well. and, therefore, we are working step by step in the dire
greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european...
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Apr 17, 2013
04/13
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the administration said we reduced deficit by police $2.6. the president is responsible for all the policy enacted before when he was in office for the first two years. if you add back the money for the stimlis, the payroll tax holiday, the 24% increase in domestic spend. total deficit reduction when you net it out comes close to $5 billion. not the higher number. you have to add both sides. all of those savings have been signed to law. this is the second line on the chart. once you take out the baseline gains and add back nearly spending increase in the budget when the gimmick removed and spending counted. total deficit reduction comes to $1 19 billion. we see it as a disappointment. because it's a missed opportunity. we need a new floach washington to meet the most pressing challenges. that's what we are offering. we offer a plan to balance the budget in ten years which we think is a critical to growing a healthy economy. we extend opportunity for them. we guarantee we think we need to get back to work to repair the safety net there in a re
the administration said we reduced deficit by police $2.6. the president is responsible for all the policy enacted before when he was in office for the first two years. if you add back the money for the stimlis, the payroll tax holiday, the 24% increase in domestic spend. total deficit reduction when you net it out comes close to $5 billion. not the higher number. you have to add both sides. all of those savings have been signed to law. this is the second line on the chart. once you take out...
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Apr 21, 2013
04/13
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she was not in any way on the same level as president reagan when it came to deficits will take care of themselves if we cut taxes and growth will come in. idea that cutting taxes raises revenues and you do not have to worry about deficits, that was not what lady thatcher was at all. she was the grant them -- --ntham housewufe adding up she was much more cautious. helen, republican color. caller: i am from manchester, england. i frequently visit my relatives in england. you know, in the late 1970s early 1980s i was adding there for a little while and i would talk to my cousins. they really hated margaret thatcher because they felt that she was a direct threat to their own livelihood. they were very pro-union, very labour party and they believe thatcher was going to take away their jobs, their homes, their education. and i was there two years ago. speaking to the same cousins, they still hate thatcher. they blame her for all of england's economic woes, blame her for the breakup of the uk that is pending with scotland, if itey really feel that was not for the government, for socialism,
she was not in any way on the same level as president reagan when it came to deficits will take care of themselves if we cut taxes and growth will come in. idea that cutting taxes raises revenues and you do not have to worry about deficits, that was not what lady thatcher was at all. she was the grant them -- --ntham housewufe adding up she was much more cautious. helen, republican color. caller: i am from manchester, england. i frequently visit my relatives in england. you know, in the late...
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Apr 19, 2013
04/13
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look, economics are fiscal situation, the deficit, the budget, are all threats to the security. there's a lot of physical seen and unseen threats out there that perhaps are different even from when admiral mullen made that comment. i align myself with the economic piece of it. there are just groups out there that threaten us. ? 0. >> thank you. it is important for us, i think to remember the president's budget despite proposing significant tax increases would still contemplate adding $12.db $2.5 trillion head by the total public. .. >> future years covered by the budget control act. will we continue to see budget that is ignore provisions, ignore the sequester provisions? can you expect budgets like that to be sent to congress that don't reflect the law? secretary hagel? >> the fy15 budget we'll present
look, economics are fiscal situation, the deficit, the budget, are all threats to the security. there's a lot of physical seen and unseen threats out there that perhaps are different even from when admiral mullen made that comment. i align myself with the economic piece of it. there are just groups out there that threaten us. ? 0. >> thank you. it is important for us, i think to remember the president's budget despite proposing significant tax increases would still contemplate adding...
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Apr 22, 2013
04/13
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spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've seen in greece last year as a result, of course, the spanish debt is rising. it's now 84.2% of the spanish gdp. that's a sharp increase if you compare to the level before the prices in spain. and there's a paradox in that announcement. yes, we've seen some positive reaction on the bond market. the other part is that it will actually help the government to ask for more time to reduce its public deficit below 3% of ggdp. the new target will be 2016, two years later than expected, and that will give the government a bit of precome, a bit of marg
spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've...
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Apr 16, 2013
04/13
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we have a massive deficit. >> well, we had a 6% of gdp deficit in 2006. it's now 3% of gdp. and if some of the economists' projections are correct, we go into surplus by 2020. that's what the market thinks. it could go wrong and i wouldn't sell all my gold at this point. but the way the market is going, we are likely to have a trade surplus or at least a deminimus deficit and that means our international credit is going to be terrific and there is no dollar crash. >> peter schiff, let me just ask you. look, there has been an awful lot of pessimism and i've been a credit of ben bernanke. and it's interesting to me and i want to get your reaction. the big inflation never came. the total collapse of the dollar never came. in fact, the dollar, against broad trade-weighted indexes is about what it was four or five years ago. gone up and down, hasn't really moved. this pumping of the money supply, most of the banks didn't use the reserves. and the inflation rate, heck, today, i think the year on year cpi, 1.3%. in other words, a lot of the doom and gloom collapsed the dollar, coll
we have a massive deficit. >> well, we had a 6% of gdp deficit in 2006. it's now 3% of gdp. and if some of the economists' projections are correct, we go into surplus by 2020. that's what the market thinks. it could go wrong and i wouldn't sell all my gold at this point. but the way the market is going, we are likely to have a trade surplus or at least a deminimus deficit and that means our international credit is going to be terrific and there is no dollar crash. >> peter schiff,...
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trade deficit with. a devastated middle class. so the first part deals with those kinds of problems the second are shows what is happening to the american labor force it in effect has been turned into a third world labor force where the only available jobs are and lowly paid the best services so that the effect of. the new economy is to have to have an undeveloped very real economy and the third part deals with the current. so called sovereign debt crisis in europe and shows that it's being used to establish. two things one that the public must bear the cost of mistakes made by private banks and the other use of the so-called crisis is to take away the sovereignty of the individual countries by turning their budget and tax policy over to to the e.u. so that's what the book about as it walks you through basically the failure of economics the failure of all of the apologists for the failure policies now what happened with while it did i use the failure of laissez faire capitalism well if you look back over the last quarter century i
trade deficit with. a devastated middle class. so the first part deals with those kinds of problems the second are shows what is happening to the american labor force it in effect has been turned into a third world labor force where the only available jobs are and lowly paid the best services so that the effect of. the new economy is to have to have an undeveloped very real economy and the third part deals with the current. so called sovereign debt crisis in europe and shows that it's being...
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Apr 16, 2013
04/13
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KQEH
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it's believed that cyprus may need to sell some gold to help cover its deficit. whale analysts don't feel it would have a huge impact on the overall market, they worry it sets a precedent for other troubled countries. while others believe gold will rebound, the thought is that the pile on selling doesn't last. >> the chances are that it will go up and down for a few weeks around then stabilize and the buyers will then step in. >> while some are worried about how the decline might impact their pension plans, it usually tends to be a small percentage of a diversified portfolio. the decline might be balanced out by gains in equities and there's even a silver lining. for those in the market to buy the commodity itself or gold jewelry, this could be a time to jump in. >> that tumble in gold prices also prompted a rare retraction from bill gross. the founder and co-chief investment officer of pimco. at a barrens magazine event last month, he predicted prices wouldn't move much unless real interest deklaclined further or expectations rose higher. neither happened. today
it's believed that cyprus may need to sell some gold to help cover its deficit. whale analysts don't feel it would have a huge impact on the overall market, they worry it sets a precedent for other troubled countries. while others believe gold will rebound, the thought is that the pile on selling doesn't last. >> the chances are that it will go up and down for a few weeks around then stabilize and the buyers will then step in. >> while some are worried about how the decline might...
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is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries had anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that it was economists who had failed to give us an early warning or that it was the regulators who had failed to account for all the risks or maybe and i think this is the case it was politicians who had allowed a boost in spending without securing revenues are driven as they often are by populist russia now as a result those economies were essentially living on credit i believe that one of the major precursors to the crisis has been exactly the fact that politicians who oversaw an accumulation of debt back when their economies were enjoying positive economic growth growth periods should normally be used to reduce debt when the crisis broke out those economies found themselves ridden with debt with no reserves to use as a safety cushion therefore i th
is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries had anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that it was economists who had failed to give us an early warning or that it was the regulators who had failed to account for all the risks or maybe and i think this is the case it was politicians who had...
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Apr 23, 2013
04/13
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CNBC
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there could be a peace dividend, where we cut the budget deficit, that happened in the '90s. i don't think you should look at this issue in a way to make money off it, though. it's really not a needle-mover. as a matter of fact, it can be negative for a lot of the defense companies, as we know. and they have been under a cloud because of these cuts. here's one from danny in new york. hi, jim, i have heard you say considering the downside of an equity that you would short a stock rather than buy a put. please elaborate. danny, i am so glad you sent me this. because if i have created any misperception that i favor shorting stocks, it is completely out of character with all my books and what i used to do with my hedge fund or trading for myself. i always do puts. i very rarely do shorts because as i write in "confessions of a street addict," i was a victim of a lot of squeezes that lost me a ton of money. use puts. here's some tweets, from b kelly, 01 not @jim cramer. covered calls, why do you hate them so much? here's the answer. i got to tell you something, b kelly 019, i hate
there could be a peace dividend, where we cut the budget deficit, that happened in the '90s. i don't think you should look at this issue in a way to make money off it, though. it's really not a needle-mover. as a matter of fact, it can be negative for a lot of the defense companies, as we know. and they have been under a cloud because of these cuts. here's one from danny in new york. hi, jim, i have heard you say considering the downside of an equity that you would short a stock rather than buy...
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is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries have anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that it was economists who had failed to give us an early warning or that it was the regulators who had failed to account for all the risks or maybe and i think this is the case it was politicians who had allowed a boost in spending without securing revenues are driven as they often are by populist russia now as a result those economies were essentially living on credit i believe that one of the major precursors to the crisis had been exactly the fact that politicians who oversaw an accumulation of debt in fact when their economies were enjoying positive economic growth growth periods should normally be used to reduce debt when the crisis broke out those economies found themselves ridden with debt with no reserves to use as a safety cushion therefore
is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries have anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that it was economists who had failed to give us an early warning or that it was the regulators who had failed to account for all the risks or maybe and i think this is the case it was politicians who had...
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Apr 19, 2013
04/13
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we can develop such a bipartisan plan perhaps in a so-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues a major drawdown of active duty and reserve strength. we have in recent years given the department numinous force shaping authorities to allow it to reduce its strength in a responsible way ensuring that the services maintain the proper force mix and avoiding grade and occupational disparities, all of which have long term affect. if sequestration continues, the result would be ore pripitous foe structe that is ou of t the requirements of our defense strategy. sequestration ha
we can develop such a bipartisan plan perhaps in a so-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies all competing to get their ideology and their policies through they all think they have the best policy no reason to bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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Apr 24, 2013
04/13
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FBC
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coming in second, but a less of a concern, the federal deficit. what to make of that, steve moore is joining us. a license for lawmakers to do all about our deficit. >> that is right. the budget deficit has gone a lot lower than putting people back to work and getting businesses profitable again. i was not surprised by this. i was a little surprised that terrorism was not high on the list. where is global warming? dagen: if i am the white house, i read into that. people say spend more, do not cut spending. spend more to create jobs rather than worry about our debt and deficit. >> that is exactly what the white house believes. i believe just the opposite. i think that the sequester has actually been bullish for the stock market. i think it is good for the economy to get rid of a lot of this extraneous spending in washington. you are right, the white house will interpret this to say keep spending federal money because in the short term, that is what gets jobs out there. dagen: harry reid said this 2% cut in spending will mean that we, as a nation, w
coming in second, but a less of a concern, the federal deficit. what to make of that, steve moore is joining us. a license for lawmakers to do all about our deficit. >> that is right. the budget deficit has gone a lot lower than putting people back to work and getting businesses profitable again. i was not surprised by this. i was a little surprised that terrorism was not high on the list. where is global warming? dagen: if i am the white house, i read into that. people say spend more, do...
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Apr 24, 2013
04/13
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target, the government will not waste this time and try to keep the deficit under control. kelly, over to you. >> do you wear suits from -- >> sorry? no, it's not. >> good looking suit. joining us from madrid. we'll hear more about that on friday. i bring this up because luxury brands have been under pressure amid slower growth in china. there are reasons for companies to stay upbeat. >> it is it stylish, sleek and highly sought after. luxury goods the envy of fashionistas all around the world from the streets of milan to beijing, luxury fashion is still in demand. as europe remains in the doldrums and there are signs of slowing, it begs the question how much longer can it last? in sidney this week, an italian label believes there are growth opportunities in the world's second largest economy. >> i think that we were used to double digit growth and now we have to be ready for slower growth. i do believe there is growth to look for in china. we are in approximately 35 cities and there are at least double of the cities that we can go in the next couple of years. >> the compan
target, the government will not waste this time and try to keep the deficit under control. kelly, over to you. >> do you wear suits from -- >> sorry? no, it's not. >> good looking suit. joining us from madrid. we'll hear more about that on friday. i bring this up because luxury brands have been under pressure amid slower growth in china. there are reasons for companies to stay upbeat. >> it is it stylish, sleek and highly sought after. luxury goods the envy of...
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Apr 19, 2013
04/13
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FBC
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back from a 90 point* plus deficit. a 95 point* swing we hold on for the last few minutes. can we? we are watching every tick of the way. . .. this is america. we don't let frequent heartburn come between us and what we love. if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec c and don't g heartburn in the first place! [ malennouncer ] e pill eachmorning. 24 urs. zero heartbur bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some plannining aneffort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td amitrade. is. liz: right now with just a couple of minutes left for the markets, we have a couple of 52-week highs. we need to show them to you right now. they are probably wildly held names you hold in your portfolio. everything from mcdonald's to proctor & gamble. as you look at these names keep in
back from a 90 point* plus deficit. a 95 point* swing we hold on for the last few minutes. can we? we are watching every tick of the way. . .. this is america. we don't let frequent heartburn come between us and what we love. if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec c and don't g heartburn in the first place! [ malennouncer ] e pill eachmorning. 24 urs. zero heartbur bob will retire when he's 153, which would be fine if bob were...
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Apr 19, 2013
04/13
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CSPAN2
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eye 72
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it drives the sided search for a piece deficit that i don't think exists. we went to that in the '90s. to undermine the readiness and capabilities to get the arsenal and they are expanding. we should be expanding hours. but to have a significant impact of the capabilities to reach the intelligence community just in time when we need it the most. to be asked about the effects of sequestration of the intelligence community and i have quoted you several times on this and it is very profound. olmec we're cutting real capability and accepting greater risk for intelligence shorter hours for public parks or longer lines at the airports for intelligence it is insidious. the capability you don't know about that until you notice that. you'll notice ny when we have the same" end quote. and i think that is the belief and the reasonthat is in the military is super bear to deal with threats around the world has the intelligence community uses capability.we are making us lese and i look to our witnesses how the current budget cuts accurately assess these threats especiall
it drives the sided search for a piece deficit that i don't think exists. we went to that in the '90s. to undermine the readiness and capabilities to get the arsenal and they are expanding. we should be expanding hours. but to have a significant impact of the capabilities to reach the intelligence community just in time when we need it the most. to be asked about the effects of sequestration of the intelligence community and i have quoted you several times on this and it is very profound. olmec...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies all competing to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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Apr 22, 2013
04/13
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CSPAN2
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eye 90
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but congress has the power to rreverse these self-inflicted wounds without adding one penny to the deficit. we've provided money, the money is there, we haven't spent it, we don't need to. we can use the savings from wrapping up two wars to avoid the full brunt of the sequester's arbitrary cuts. the congressional budget office said that would score; that money is available, it is money we could use. funding for the operation in ir a afgan has in alled overseas contin yeype account. since the worst of the seq cuts are creating an emergency situation, we should consider using thighs funds to offset their impact. these really are emergencies and we should do it. i am not proposing we use them to offset the entire sequester but congress has the power to avert the most painful sequester cuts using these mexico. 28 republicans in the senate and 174 republicans in the house would impose these sequester haphazard cuts. if those same republicans work with democrats, we could act to protect families and businesses and ensure our national defense and save millions of americans hours waiting at the ai
but congress has the power to rreverse these self-inflicted wounds without adding one penny to the deficit. we've provided money, the money is there, we haven't spent it, we don't need to. we can use the savings from wrapping up two wars to avoid the full brunt of the sequester's arbitrary cuts. the congressional budget office said that would score; that money is available, it is money we could use. funding for the operation in ir a afgan has in alled overseas contin yeype account. since the...
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Apr 23, 2013
04/13
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CSPAN2
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number one, the economic deficit of less skilled immigration. the u.s. work force is changing american family is having fewer children and birthrates are now well below levels. 10,000 baby boomers are retiring every day. and the lush and her workers coming behind them are much more educated than their parents. in 196064% of american workers were high-school dropouts. today the number is less than 10%. together these three factors have had a dramatic effect on the pool of americans available to fill low-skill jobs. it is no accident that my members are constantly complaining about the difficulty finding workers. the pool have to draw on a shrinking. for those seeking higher, unskilled man of prime working age the supply of u.s. workers is literally half the size it was in 1970. if a thing, demand is growing. in $0.195,525 of every dollar spent on food was spent in a restaurant. today it is $0.50. one of the fastest growing occupations in america is some help aid. many less skilled immigrant workers and only then increasingly in years ahead. aside from tak
number one, the economic deficit of less skilled immigration. the u.s. work force is changing american family is having fewer children and birthrates are now well below levels. 10,000 baby boomers are retiring every day. and the lush and her workers coming behind them are much more educated than their parents. in 196064% of american workers were high-school dropouts. today the number is less than 10%. together these three factors have had a dramatic effect on the pool of americans available to...
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Apr 23, 2013
04/13
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KICU
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the eurozone's collective deficit decreased in 2012. its most financially strapped countries, including ireland, greece and italy, have trimmed or stabilized deficits, while more secure nations like germany have pulled back on spending. meanwhile, greece, ireland, italy and portugal each still have debt that is higher than a year of the country's economic output. general motors drives up sales in china. the car company sold one million cars in china faster than it ever has before. last year, it took until may 7th before gm sold its one millionth vehicle. the news comes during the shanghai auto show. there are more than one hundred automakers in china. sales growth is exploding, and american car companies are hoping to compete. singapore is a growing "money magnet" for the wealthy. a new report says singapore is on track to replace switzerland as the largest offshore wealth hub. switzerland has $2.8 trillion in assets. $2.1 trillion are from offshore. singapore has $550 billion in assets under management. nearly $450 billion are from off
the eurozone's collective deficit decreased in 2012. its most financially strapped countries, including ireland, greece and italy, have trimmed or stabilized deficits, while more secure nations like germany have pulled back on spending. meanwhile, greece, ireland, italy and portugal each still have debt that is higher than a year of the country's economic output. general motors drives up sales in china. the car company sold one million cars in china faster than it ever has before. last year, it...
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trade deficit with. a devastated middle class. so the first part deals with those kinds of problems a second part shows what is happening to the american labor force it in effect has been turned into a third world labor force where they only available jobs are and lowly paid the best services so that they can affect. the new economy is to have to have an undeveloped area of commerce and the third part deals with the current. so-called sovereign debt crisis in europe and shows that it's being used to establish two things one that the public must bear the cost of mistakes made by private banks and the other use the so-called crisis is to take away the sovereignty of the individual countries by turning their budget and tax policy over to to the e.u. so that's what the book does it walks you through basically the failure of economics the failure of all of the apologists for the failed policies now what happened with . while it did i use the failure of laissez faire capitalism well if you look back over the last quarter century it's be
trade deficit with. a devastated middle class. so the first part deals with those kinds of problems a second part shows what is happening to the american labor force it in effect has been turned into a third world labor force where they only available jobs are and lowly paid the best services so that they can affect. the new economy is to have to have an undeveloped area of commerce and the third part deals with the current. so-called sovereign debt crisis in europe and shows that it's being...
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Apr 16, 2013
04/13
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CSPAN
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these cuts are part of a balanced budget of deficit reduction. these cuts are backloaded, occurring mainly in the years beyond f.y. 2018, which gives the department time to plan and implement the reductions wisely and responsibly, anchored by the president's defense strategic guidance. let me turn to the details of the president's budget request. $526.6 billion budget request addresses the compelling demands of supporting troops in afghanistan, protecting readiness, modernizing the military's weapons inventory and in keeping with the president's strategic guidance and sustaining the quality of the all-volunteer force. today's budget request contains a placeholder request, mr. chairman, for overseas contingency at the f.y. 2013 vel, and the submission does not include a formal request because afghanistan force levels and deployment decisions for this year were delayed in order to provide commanders enough time to fully assess requirements. we will be smithing a budget with the -- submitting a budget and account level detail. the base budget contin
these cuts are part of a balanced budget of deficit reduction. these cuts are backloaded, occurring mainly in the years beyond f.y. 2018, which gives the department time to plan and implement the reductions wisely and responsibly, anchored by the president's defense strategic guidance. let me turn to the details of the president's budget request. $526.6 billion budget request addresses the compelling demands of supporting troops in afghanistan, protecting readiness, modernizing the military's...
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Apr 18, 2013
04/13
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KRCB
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finance ministry officials said the trade deficit came to $3.7 billion. exports rose 1.1% from a year earlier in yen terms. that's the first rise in two months. imports rose 5.5%. it rose for a fifth straight month. higher demand for crude oil and liquefied gas was aajor stumble. the dow jones industrial average ended up 14,618. down more than .9 of a percent. for more on how stocks are trading, let's go to ramin at the tokyo stock exchange. seems like we're having a bald week with stocks up and down every day. >> it does seem that way. we had housing data on tuesday that rose and now we see the likes of bank of america and some of the major tech suppliers coming out with weak numbers and forecast this which pulled down the key indexes as well. let's look at how that is translating into the opening levels for today, thursday, april 18th here. both indexes in thenegative. 1347 down one 1% the nikkei. down 1,125 for the topix. the nikkei rebounded on wednesday. the focus today may shift to financial and tech related shares especially as shares of apple fell
finance ministry officials said the trade deficit came to $3.7 billion. exports rose 1.1% from a year earlier in yen terms. that's the first rise in two months. imports rose 5.5%. it rose for a fifth straight month. higher demand for crude oil and liquefied gas was aajor stumble. the dow jones industrial average ended up 14,618. down more than .9 of a percent. for more on how stocks are trading, let's go to ramin at the tokyo stock exchange. seems like we're having a bald week with stocks up...
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for the meantime as our european countries wrestle with their budget deficits and slash their military spending it's becoming harder for nato to stay afloat now the alliance is top officer has slammed the e.u. allies for quote getting a free ride and while leaving the u.s. to bear the burden of the defense finances now crisis hit nato states have already chopped more than forty five billion dollars from the alliance is treasury that's the equivalent of germany's entire annual military budget now the number of european troops in the u.s. led bloc though has also plummeted from two point five million in two thousand now to one point eight six million and while the u.s. is also trimming its own military costs its share of the budget has still risen to seventy five percent of the total and as artists are silly reports from brussels concerns over nato's viability continue to grow. the nato secretary general anders fogh rasmussen had actually come out and warned its partners against the danger of more defense spending cuts as we've already seen especially from its european partners so this o
for the meantime as our european countries wrestle with their budget deficits and slash their military spending it's becoming harder for nato to stay afloat now the alliance is top officer has slammed the e.u. allies for quote getting a free ride and while leaving the u.s. to bear the burden of the defense finances now crisis hit nato states have already chopped more than forty five billion dollars from the alliance is treasury that's the equivalent of germany's entire annual military budget...
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Apr 23, 2013
04/13
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CNBC
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so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growth incentive measures. that's the reason why the stock market is doing well and that's the reason why we've seen yesterday the bond market failing to the lowest level in 2 1/2 years, despite the report from eurostadt saying spain last year had the highest deficit in europe and the latest announcement from the bank of spain in terms of economic growth. >> stephane, by the way, if you could order pizza through your television -- i've seen that television, it's pretty big -- would you? >> sorry, if i could order pizza? >> yes. through your television. would you be interested? >> well, i have reached an age i can't afford -- i can't eat pizza. but, you know, one piece brings probably two hours, three hours at the gym. >> not worth it. that might tie in nicely with what's going on in our next story. stephane, thank you very much. pizza and video games may now be going hand in hand. in fact, it might be the perfect food to chow down on while you're
so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growth incentive measures. that's the reason why the stock market is doing well and that's the reason why we've seen yesterday the bond market failing to the lowest level in 2 1/2 years, despite the report from eurostadt saying spain last year had the highest deficit in europe and the latest announcement from the bank of spain in terms of economic growth. >> stephane, by the way,...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy i let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies off impeding to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long ter
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy i let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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Apr 23, 2013
04/13
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KCSM
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eye 62
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as they aim to turn its primary balance deficit into a surplus by 2020, prime minister abe has ordered them to come up with a clear road map to tackle the problem. they want to include this in the government's mid to long term economic and fiscal policies to be compiled by around june. the prime minister made the comment at a meeting of council on economic and fiscal policy held on monday. it came after council members from the private sector said in the meeting that the government's effort to make the finances healthy are essential. they said this is to ease concerns that the bank of japan is taking over the country's debt as the central bank boosts purchased. the members urge them to use funds from the private sector as well as to promote reforms on medical nursing systems. >>> bold monetary easing measures by japan's central bank are starting to have an effect on the country's constitutiinst investors. the yield falls on japanese government debt. officials reveal how to plan to manage funds for fiscal 2013 which started this month. they say they will boost their investments by $10 b
as they aim to turn its primary balance deficit into a surplus by 2020, prime minister abe has ordered them to come up with a clear road map to tackle the problem. they want to include this in the government's mid to long term economic and fiscal policies to be compiled by around june. the prime minister made the comment at a meeting of council on economic and fiscal policy held on monday. it came after council members from the private sector said in the meeting that the government's effort to...
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of focusing on tax rates well of course and so how have we most effectively raised you know the by deficit spending we did it with world war two we did it with the highs in our highway project we did it with the great society we did it with a man on the moon i mean we know you can't give me past nine hundred sixty not the world's changed since we made it out we should just we should just be going for no reason just that he should just sweep the rest of the world and recover or his recovery and it will be my good name is that because i love what you just said the communal spending will communal spending is there and if it's done right in strategically you make sure your average citizen is educated well and can compete in a global society and that in very investments are made so that we can lead the world in things like alternative energy but that's not happening right now because all we want to do is not tax the people tom what is the tax rate now for the very wealthy as compared to the reagan era welfare now it's the top tax rate is thirty nine percent but if you're in your living sitting
of focusing on tax rates well of course and so how have we most effectively raised you know the by deficit spending we did it with world war two we did it with the highs in our highway project we did it with the great society we did it with a man on the moon i mean we know you can't give me past nine hundred sixty not the world's changed since we made it out we should just we should just be going for no reason just that he should just sweep the rest of the world and recover or his recovery and...